OECD Urges Governments to Confront ‘Backlash’ Against Globalization

The organization cuts global forecasts for growth in 2016 and 2017

Failure to confront a “backlash against globalization” would condemn the global economy to low growth, the Organization for Economic Cooperation and Development said Wednesday, as it also warned that very low and negative interest rates are distorting asset markets and threatening the stability of financial systems.

Flows of goods and services between countries surged in the decades running up to the 2008 financial crisis as large companies moved parts of their production and associated jobs overseas, a process known as...